Monday 15 October 2012

Oil falls further amid global growth concerns

BANGKOK (AP) ? The price of oil fell Monday after Chinese economic indicators did little to raise hopes for a rebound in the world's second-largest economy. Trade data released Saturday showed Chinese imports revived slightly from the previous month's contraction but grew by only 2.4 percent, suggesting a recovery has yet to take hold. The agency also forecast that supplies will increase, in part because U.S. production from shale formations is exceeding expectations.

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